In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Friday, May 22, 2015

Black Knight: Mortgage Delinquencies increased slightly in April

by Calculated Risk on 5/22/2015 07:01:00 AM

According to Black Knight's First Look report for April, the percent of loans delinquent increased 1% in April compared to March, and declined 15% year-over-year.

The percent of loans in the foreclosure process declined 2% in March and were down 25% over the last year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.77% in April, up from 4.70% in March.

The percent of loans in the foreclosure process declined in April to 1.51%.  This was the lowest level of foreclosure inventory since January 2008.

The number of delinquent properties, but not in foreclosure, is down 406,000 properties year-over-year, and the number of properties in the foreclosure process is down 252,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for April in early June.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
In Foreclosure1.51%1.55%2.02%3.17%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:1,463,0001,409,0001,634,0001,717,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:952,000971,0001,187,0001,394,000
Number of properties in foreclosure pre-sale inventory:764,000782,0001,016,0001,588,000
Total Properties3,179,0003,162,0003,837,0004,699,000